Long-Awaited Relief May Finally Be Here?

CNN Money reports that 2010 could bring a long-awaited relief for the real estate market. With decreasing inventories and home sales rising, economists feel that home values could fall another 5 to 10 percent before finally bottoming out in the second half of the year.

According to the National Association of Home Builders, with the  30 percent price drop beginning in 2006, houses are more affordable now than in the the past two decades. Mortgage rates are also expected to stay low in the beginning months of the new year. This is because the Federal Reserve will continue to purchase mortgage backed-securities. In addition, the recent extension and expansion of the first-time homebuyer tax credit will also have a positive effect on the market.

There are many wonderful opportunities to purchase a home in Hoboken. Whether it be a lovely condo, brownstone, Classic Victorian or anything in between; I guarantee you there is a home for you. Please contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can be reached at eddie@InvestHoboken.com or 201-344-2886.

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